Corporate Law

NCLAT Extends "Clean Slate" Immunity Under IBC Section 32A to Buyers in Liquidation Sales

Principal Bench Rules that Corporate Debtor Sold as Going Concern During Liquidation Can Avail Immunity from Past Liabil...

NCLAT Upholds Liquidation Order Date as Commencement of Liquidation Process, Rejects Retrospective Application of Amended Regulations

Bench clarifies that sale of corporate debtor as a going concern begins from liquidation order date; subsequent regulato...

NCLAT Upholds Forensic Audit, Dismisses Appeal of Suspended Directors in Rs. 4.37 Crore Fraud Case Involving Linkson International Ltd.

Principal Bench of NCLAT confirms liability of ex-directors for siphoning funds, fraudulent transactions, and overvaluat...

NCLT Mumbai Bench Approves Rs. 1,611 Crore Resolution Plan for Gstaad Hotels Pvt. Ltd., Upholding Commercial Wisdom of Committee of Creditors

Tribunal Dismisses Suspended Directors' Objections, Validates Resolution Plan Compliance Under IBC, and Emphasizes Limit...

NCLT Ahmedabad Orders Return of 10 Leased Electric Vehicles to Mahindra & Mahindra Financial Services Amid Dual Financing Dispute

Tribunal holds Section 14 moratorium does not confer ownership rights; directs Resolution Professional to hand over vehi...

NCLT Guwahati Bench Dismisses Second Insolvency Application Against Same Personal Guarantor Citing Interim Moratorium under IBC

Tribunal Upholds Debtor-Centric Nature of Section 96 Moratorium, Bars Multiple Insolvency Proceedings Against Personal G...

NCLT Bengaluru Bench Approves Resolution Plan for Sanjeevni Medlife Hospitals Pvt. Ltd., Ensuring Revival of MSME Unit with Rs.18.70 Crore Infusion

Resolution Plan Involving 49% Promoter Share Dilution and Priority Payment to Operational Creditors Sanctioned; Implemen...

NCLAT Rules on Mandatory Territorial Jurisdiction under IBC: Proceedings Against Personal Guarantor Must Align with Corporate Debtor's CIRP Bench

NCLAT Principal Bench Sets Aside Transfer Refusal by NCLT New Delhi; Emphasizes Overriding Statutory Mandate of Section ...

NCLT Ahmedabad Admits Mercury Trade Links Ltd into Corporate Insolvency Resolution Process

Fettech Commercial Enterprises Pvt Ltd’s Application Under IBC Section 9 Approved; Moratorium Imposed...

NCLT Indore Bench Denies Intervention Request in Section 7 Insolvency Case

Colama Commercial Co Ltd.'s Bid to Intervene in Excellence Finance's Insolvency Proceedings Against Satiate Agri Limited...

NCLT Orders Ex-Promoters to Surrender Assets for Resolution Plan Implementation

Tribunal mandates police protection for asset handover in IDBI Bank vs. Powerdeal Energy Systems case...

NCLT Chennai Dismisses CIRP Petition Where Loan Disbursed to Director's Personal Account, Not Corporate Debtor

Tribunal Emphasizes Three-Test Framework to Establish "Financial Debt" Under IBC; Disbursement Must Be Directly to Corpo...

NCLAT Closes CIRP of Shalfeyo Industries Pvt. Ltd. Amid Settlement, Directs Payment of CIRP Costs

In a rare move, NCLAT Principal Bench orders closure of insolvency proceedings despite procedural non-compliance under S...

NCLAT Upholds Approval of Resolution Plan for Satellite Cables Pvt. Ltd., Rejects Challenges by Suspended Directors

Tribunal rules that commercial wisdom of Committee of Creditors is not open to judicial review; Practising Chartered Acc...

NCLAT Emphasizes Compliance with Section 12A for Withdrawal of Corporate Insolvency Resolution Process Post-Settlement

Settlement Between Operational Creditor and Corporate Debtor After CIRP Initiation Requires Adjudicating Authority's App...

NCLAT Upholds Resolution Professional's Right to Reject Financial Claims Without Direct Evidence of Debt in Somani Worsted Ltd. Case

Tribunal rules that internal accounting and related-party transactions fail to establish independent financial debt; Res...

NCLAT Upholds Admission of Insolvency Petition Against Corporate Guarantor, Rejects Natural Justice and Limitation Pleas

National Company Law Appellate Tribunal dismisses appeal by suspended director of AS Infracon Pvt. Ltd., affirms due pro...

NCLAT Upholds Prohibition on Transactions During Moratorium, Orders Rs. 1.01 Crore Refund with Interest

Principal Bench directs Moving Pixels Pvt. Ltd. to remit Rs. 1.01 crore received during CIRP moratorium, reinforcing Sec...

NCLAT Exonerates Resolution Professional in Clerical Error Case, Emphasizes No Prejudice to Stakeholders

National Company Law Appellate Tribunal Sets Aside Adverse Judicial Remarks Against Resolution Professional for Typograp...

NCLT Indore Bench Admits CIRP Petition Against Satiate Agri Limited for Default of Rs. 6.27 Crore

Corporate Debtor Admits Debt and Default; MVK IPE LLP Appointed Interim Resolution Professional; Moratorium Imposed Unde...

NCLT Mumbai Declares Approved Resolution Plan Non-Implementable Due to Fund Shortfall; Resolution Professional Directed to Convene CoC Meeting

Tribunal holds that mandatory payments to dissenting financial creditors cannot be deferred or increased beyond agreed l...

NCLT Mumbai Orders Corporate Insolvency Resolution Process Against Essel Infraprojects Limited, Affirms Guarantor's Independent Liability

Tribunal holds corporate guarantee given by Essel Infraprojects remains valid despite asset transfer under demerger and ...

NCLT Mumbai Allows Filing of Additional Documents in Insolvency Case, Imposes Cost for Delay

In RAB Enterprises v. Awfis Space Solutions, NCLT underscores discretion under Rule 55 of NCLT Rules to admit documents ...

NCLT Indore Admits CIRP Against Owais Metal & Mineral Processing Ltd. for Default on Rs. 117 Crore Loan by Hinduja Leyland Finance

Tribunal Rejects Corporate Debtor's Pleas on Mining Block Dispute and Security Challenges; Moratorium Declared and Inter...

NCLT Hyderabad Bench Upholds Resolution Professional's Authority to Verify Claims in CIRP; Retains Financial Creditor's Claim at Rs. 73.98 Crores

Tribunal affirms Resolution Professional's power to engage professionals for re-verification under IBC, 2016; Madhya Pra...

NCLT Special Bench Stalls Repayment Plan Approval for Indiabulls Case

Personal Guarantor Restrained from Asset Alienation Amidst Divergent Views in Tribunal...

NCLT Approves Rs.2,775 Crore Resolution Plan for Wind World (India) Limited - Inox-Authum Consortium to Revive Debt-Ridden Wind Energy Company

After 8-Year Insolvency Battle, NCLT Greenlights Resolution Plan with 96.47% CoC Approval; Technology Dispute with Enerc...

NCLT Approves Repayment Plan of Dr. Subhash Chandra in Insolvency Case Amidst Contentious Creditor Disputes

Tribunal affirms statutory compliance in repayment plan approval under IBC, 2016; dismisses claims of associate creditor...

NCLT Kochi Bench Approves Amalgamation Scheme of Vallabhdas Kanji Limited with Wholly-Owned Subsidiaries, Dispenses with Shareholder and Creditor Meetings

Tribunal sanctions scheme under Sections 230-232 and 66 of Companies Act, 2013 for amalgamation by absorption and share ...

NCLT Kolkata Bench Admits Planet Infrastructure into Corporate Insolvency Resolution Process Over Rs. 4.95 Crore Operational Debt

Tribunal Rules Arbitration Proceedings Against Directors Do Not Constitute Pre-existing Dispute Against Corporate Debtor...

NCLT Chandigarh Bench Upholds Resolution Plan in Samar Estates Insolvency Case, Rejects Challenge by Suspended Directors